Announcement Date: 2022-05-24
Announcement Type: Drilling Results
Announcement Code: NI43-101
Company name: NGEx Minerals Inc.
Project name: Los Helados
Location: Chile
Commodities: Gold,Silver,Copper
Highlight: Drilling results incl. 1290m @ 0.6% Cu, 0.21g/t Au, 2.3g/t Ag from 110m
Resources: only available to subscribers
CP/QP: only available to subscribers
Announcement summary: VANCOUVER, MAY 24, 2022 – NGEx Minerals Ltd. (TSXV: NGEX) (“NGEx Minerals”, “NGEx” or the “Company”) is pleased to report results from hole LHDH076 at the Los Helados copper-gold project located in Region III, Chile. Hole LHDH076 is the best hole drilled on the project to date, measured by copper-equivalent (“CuEq”) multiplied by intercept length, and ended in strong mineralization at 1,400m depth. The last sample in the hole returned 1.50% CuEq (1.02% Cu, 0.32 g/t Au, 49.0 g/t Ag). Hole LHDH076 confirms the Company’s new geological interpretation that the Los Helados deposit contains at least two centres of high-grade mineralization. Seven holes have been completed to date, and three holes are underway. These holes are testing other areas with potential for extensions of existing zones as well as potential new centres of high-grade mineralization. Hole LHDH078, located approximately 700m north of LHDH76, at the northwest edge of the current drill pattern is testing one of these new targets with results pending. Drilling with three rigs will continue until the onset of winter weather, which is expected in mid June, and is planned to resume after a short winter break. The Los Helados deposit is located 16km northeast of the Filo del Sol deposit where Filo Mining is drilling a major copper-gold-silver discovery. Filo del Sol and Los Helados lie along the same major northeast-trending structure which controls a series of alteration zones, representing high-quality exploration targets, between the two deposits.
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